For Traders

Analytical Reviews

04.08.202011:40 Forex Analysis & Reviews: Trader's diary on 08/04/2020. EURUSD and US market

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

S&P 500 daily chart

A new attempt at growth can be seen - major players drive the market to the highs of the year, planning to force the shortists to take stops. There is no reasonable sense for the market to rise from these levels – the economy is in a bad state, unemployment is around 10.5% and employment growth is stalling, despite stimulus from the government.

Ahead of the hard fight between Trump and Biden for the presidency, Trump is likely to lose due to the difficult situation with the epidemic in the United States.

As a result, selling the US market from the highs of the year with small volumes and a gradual increase upward will be considered.

EURUSD:

We bought from the level of 1.1785 with the target at 1.1885.

We are ready to sell from the level of 1.1690.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.